Fundraising is a process which involves a collection of money as a donation, for the cause from, businesses and individuals. People who raise money from these groups is known as the fundraiser. Fundraising was used to collect money for the non-profit organizations, however, over many years, fundraising has changed a lot, and it’s currently used to fund different causes.
These causes can include anything which is from helping the group of people who have been injured during the war, to supporting the religious causes. The traditional fundraising usually happens offline while modern day crowdfunding happens online. Actually, there are different types there fundraising will happen which include:
1 Corporate support
This is a philanthropic giving by the corporate company to the organization. Organizations involve the NGOs and also other non-profits. The non-profits approach the corporate companies and explain their mission. Some corporations can contribute to the causes either from the set budget or from their foundation. Some companies can be interested to sponsor the NGO’s capital campaign as it essentially increases brand outreach. It’s called Cause Branding. (https://www.dugnadseksperten.no/kort-dugnad/)
2 The Online Fundraising
This type of fundraising is the easiest way what raises funds for the cause. Because of being online, it will reach a larger audience who physically may be impossible. Many non-profits organizations (https://www.dugnadseksperten.no/sokker-dugnad/) are not leveraging the power of online fundraising. There are some fundraising platforms, for example, Milaap, which uses the crowd-funding to correct funds for the project.
3 Earned Income
The earned income is the amount of the money which is earned by producing the goods or services offered by the non-profit. For instance, the NGO may make the handmade goods and the accessories like the purses and then sell it. If you have ever purchased any of the handmade accessories, then you have to contribute to the NGOs which earns income. This commonly requires the marketing plan and also “Being human” brand being the right example of it like any accessory you purchase under Being Human brand contribute to Being Human Foundation.